TOYO's Houston Solar Module Facility Commences Commercial Operations with Secured Customer Demands

Rhea-AI Summary

TOYO (Nasdaq: TOYO) announced that its Houston solar module manufacturing facility received a Certificate of Occupancy on October 13, 2025 and has commenced full commercial operations. The Houston Facility is designed to produce up to 1 GW of high-efficiency solar modules annually and the company reported strong customer demand during trial production.

The facility is expected to qualify for tax incentives under Section 45X of the Internal Revenue Code, providing up to $0.07 per watt in production credits through 2030, which TOYO says will enhance cost competitiveness for U.S.-based module supply.

Positive

• 1 GW annual production capacity
• Certificate of Occupancy received on Oct 13, 2025
• Eligibility for Section 45X credits up to $0.07/watt through 2030

Negative

• None.

TOKYO, Oct. 14, 2025 /PRNewswire/ -- TOYO Co., Ltd (Nasdaq: TOYO) (OTC: TOYWF),  ("TOYO" or the "Company"), a solar solution company, today announced that its new solar module manufacturing facility in the Houston metropolitan area (the "Houston Facility") has received its Certificate of Occupancy issued by the City of Houston on 13 October 2025. This milestone marks TOYO's commencement of full commercial operations at the Houston Facility, reinforcing TOYO's commitment to expanding its U.S.-based manufacturing footprint.

The Houston Facility is designed to produce up to 1 GW of high-efficiency solar modules annually. During the trial production phase, the Company has received strong demand from its U.S. clients for the modules manufactured at the Houston Facility. As operations scale, TOYO anticipates robust demand from utility-scale developers seeking reliable and domestically manufactured modules that qualify for favorable tax incentives.

"This certification is a major step forward in our 'made-in-USA-for-the-USA' strategy," said Junsei Ryu, Chairman and CEO of TOYO. "We're proud to bring high-quality solar module production to Texas and to support our partners with dependable U.S.-based supply. The strong momentum in customer orders reflects our partners' trust in TOYO's technology, execution and long-term commitment to the U.S. market."

The Houston Facility is expected to qualify for tax incentives under Section 45X of the Internal Revenue Code, providing up to $0.07 per watt in production credits through 2030. This strengthens TOYO's cost competitiveness while supporting broader goals for domestic energy manufacturing.

About TOYO Co., Ltd.

TOYO is a solar solutions company committed to becoming a full-service solar solutions provider in the global market, integrating upstream production of wafers and silicon, midstream production of solar cells, downstream production of photovoltaic modules, and potentially other stages of the solar power supply chain. TOYO is well-positioned to produce high-quality solar cells at a competitive scale and cost.

Forward-Looking Statements

This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "estimate," "plan," "project," "forecast," "intend," "will," "expect," "anticipate," "believe," "seek," "target" or other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding the expected growth of TOYO, the expected order delivery of TOYO, TOYO's construction plan of manufactures, and strategies of building up an integrated value chain in the U.S. These statements are based on various assumptions, whether or not identified in this press release, and on the current expectations of TOYO's management and are not predictions of actual performance.

These statements involve risks, uncertainties, and other factors that may cause actual results, activity levels, performance, or achievements to materially differ from those expressed or implied by these forward-looking statements. Although TOYO believes that it has a reasonable basis for each forward-looking statement contained in this press release, TOYO cautions you that these statements are based on a combination of facts and factors currently known and projections of the future, which are inherently uncertain. In addition, there are risks and uncertainties described in the documents filed by TOYO from time to time with the SEC. These filings may identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements.

TOYO cannot assure you that the forward-looking statements in this press release will prove to be accurate. These forward-looking statements are subject to several risks and uncertainties, including, among others, the outcome of any potential litigation, government or regulatory proceedings, the sales performance of TOYO, and other risks and uncertainties, including but not limited to those included under the heading "Risk Factors" of the filings of TOYO with the SEC. There may be additional risks that TOYO does not presently know or that TOYO currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In light of the significant uncertainties in these forward-looking statements, nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. The forward-looking statements in this press release represent the views of TOYO as of the date of this press release. Subsequent events and developments may cause those views to change. However, while TOYO may update these forward-looking statements in the future, there is no current intention to do so except to the extent required by applicable law. You should, therefore, not rely on these forward-looking statements as representing the views of TOYO as of any date subsequent to the date of this press release. Except as may be required by law, TOYO does not undertake any duty to update these forward-looking statements.

Contact Information:

For TOYO Co., Ltd.
IR@toyo-solar.com  

Crocker Coulson
Email: crocker.coulson@aummedia.org
Tel: (646) 652-7185

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SOURCE TOYO Co., Ltd

FAQ

When did TOYO (TOYO) start commercial operations at its Houston facility?

TOYO began full commercial operations after the facility received a Certificate of Occupancy on October 13, 2025.

What is the planned annual production capacity at TOYO's Houston facility (TOYO)?

The Houston Facility is designed to produce up to 1 GW of high-efficiency solar modules per year.

How much tax credit could TOYO (TOYO) receive under Section 45X for Houston production?

The facility is expected to qualify for up to $0.07 per watt in production credits under Section 45X through 2030.

Will TOYO's Houston-made modules qualify for U.S. incentives (TOYO)?

TOYO expects the Houston-made modules to qualify for favorable U.S. tax incentives, including Section 45X production credits.

What demand has TOYO (TOYO) reported for modules from the Houston facility?

During trial production, TOYO reported strong demand from U.S. clients for modules made at the Houston Facility.

How does TOYO's Houston facility affect its U.S. manufacturing strategy (TOYO)?

The Houston Facility advances TOYO's made-in-USA-for-the-USA strategy by adding domestic capacity and supporting supply for utility-scale developers.